The Global Securities Financing Summit held in Luxembourg on 20 and 21 January, and touch on many issues in financial securities, including cash and repo.The summit was the largest gathering of participants from the international community and repo collateral management in the world. The summit was opened by Stefan Lepp, head of Global Securities Finance (click to follow link to the video gsl with Stefan Lepp). It was followed by an overview of recent initiatives in Europe by Daniela Russo, the director general of the Directorate General of payments and market infrastructure at the European Central Bank. Lucinda Brickler, vice-president and co-head of the office of Policy payments of credit and payment risk group to the Federal Reserve Bank of New York, gave his overview of recent initiatives in the United States .

The first roundtable, chaired by Ms. Russo, included Ms Brinkles, Michael Schneider, director of global liquidity and the Ministry of collateral management and the deputy head of global treasury of DZ Bank, Jaap Mauritz, the Senior Advisor Policy in favor of De Nederlandsche Bank, and Frederic Mouchel, the director general and treasurer of the Society for JP Morgan EMEA.

Then came a speech by Patrick Artus, chief economist at Natixis. The afternoon consisted of presentations discussing various products Clearstream, both Pascal Morosini, the sales manager at the GSF and relationship management, and Jean-Robert Wilkin, the GSF product manager at Clearstream Banking.The second day began with welcoming remarks from the CEO of Clearstream International, Jeffrey Tessler, followed by opening comments by Mark Dearlove, director general and head of global liquidity for Barclays Capital.

 Mr Dearlove then discussed repo and cash management, which resulted in the second roundtable on the same subject. Here, Mr. Dearlove was joined by Harald Bänsch, managing director of UniCredit Bank AG, Geert Wijnhoven, head of European cash to ING Bank, Michael Cyrus, co-head of markets in the short term and Funding for the Royal Bank of Scotland, Andreas Biewald, the head of funds secured and unsecured Commerzbank, and Jamie Smith, head of secured transactions at Bank of Scotland.

After lunch, Paul Mercier, senior adviser for market operations for the European Central Bank, delivered a keynote address, leading to the opening of the third and final roundtable. Chaired by Mr. Dearlove, Dirk Hermans, head of securities lending in Europe, DWS Investment GmbH, Mick Chadwick, head of trading of financial securities for Aviva Investors, Mark Newton, head of securities lending trading and pricing of equity at Barclays Capital, Jay Schreyer, the CEO of Deutsche Bank’s lending of securities, and Walter Kraushaar, the managing director and head of short-term products for DekaBank Deutsche Girozentrale, explained their point of view market on the current state of the market for securities lending.